Free Trial

Management on Ratings Outlook & Collateral Issues

CONSUMER CYCLICALS

Management accepts rating agencies looking for operating performance to reverse before any potential move up. Re potential collateral issues - downplayed with mgmt noting when residual values declined during Covid didn't have a issue - helped by use of 3m rolling avg's & a sharp reversal higher in prices then.

Management trying to paint a positive picture outside near term uncertainty & upcomming seasonal weakness. Little liquidity in pre-market but equities were little moved and is coming off another -7% fall on Friday's session.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.